Online Terrorism Prevention Act This bill requires each social media company to establish an office to identify and remove violent or extremist content associated with or distributed by a terrorist organization. In addition, the bill requires enforcement by the Federal Trade Commission and authorizes enforcement by state attorneys general and the Federal Bureau of Investigation. A social media company is any person with annual revenues in excess of $10 million generated from owning, managing, or operating a website or internet medium that allows a person to establish an account or create a profile to create, share, and view user-generated content.